ISPY vs. SPY
Compare and contrast key facts about ProShares S&P 500 High Income ETF (ISPY) and SPDR S&P 500 ETF (SPY).
ISPY and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ISPY is a passively managed fund by ProShares that tracks the performance of the S&P 500 Daily Covered Call Index. It was launched on Dec 18, 2023. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both ISPY and SPY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ISPY or SPY.
Key characteristics
| ISPY | SPY | |
|---|---|---|
| YTD Return | 23.21% | 26.83% |
| Daily Std Dev | 11.34% | 12.18% |
| Max Drawdown | -7.88% | -55.19% |
| Current Drawdown | -0.26% | -0.26% |
Correlation
The correlation between ISPY and SPY is 0.97, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
ISPY vs. SPY - Performance Comparison
In the year-to-date period, ISPY achieves a 23.21% return, which is significantly lower than SPY's 26.83% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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ISPY vs. SPY - Expense Ratio Comparison
ISPY has a 0.55% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
ISPY vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares S&P 500 High Income ETF (ISPY) and SPDR S&P 500 ETF (SPY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Not enough dataDividends
ISPY vs. SPY - Dividend Comparison
ISPY's dividend yield for the trailing twelve months is around 8.44%, more than SPY's 1.17% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISPY ProShares S&P 500 High Income ETF | 8.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY SPDR S&P 500 ETF | 1.17% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
ISPY vs. SPY - Drawdown Comparison
The maximum ISPY drawdown since its inception was -7.88%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for ISPY and SPY. For additional features, visit the drawdowns tool.
Volatility
ISPY vs. SPY - Volatility Comparison
The current volatility for ProShares S&P 500 High Income ETF (ISPY) is 3.24%, while SPDR S&P 500 ETF (SPY) has a volatility of 3.77%. This indicates that ISPY experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.